The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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Gold prices declined $6.46 an ounce on Thursday as demand for the greenback increased after the weekly unemployment claims data came in better than expected.
The EUR/USD pair broke higher during the beginning of the session on Thursday, but as you can see fell in order to test the 1.1350 region.
The USD/JPY pair rose during the course of the session on Thursday, as we continue to grind around the 119 level.
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The USD/CAD pair tried to rally during the course of the session on Thursday, but struggled once we got above the 1.25 handle.
The GBP/USD pair tried to rally during the session on Thursday again, but struggled just below the 1.55 handle in order to form a relatively negative candle.
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Looking at the EUR/CHF pair, we did break out during the session on Wednesday, and cleared the 1.07 handle.
The USD/CAD pair bounced off of the 1.24 level during the session on Wednesday, continuing the consolidation area that we have been in for some time, and as a result I would fully anticipate that the market should go to the 1.25 level, and then possibly above there given enough time.
The USD/JPY pair went back and forth during the course of the session on Wednesday, as we continue to hang about the 118.50 level.
Gold prices rose 0.32% on Wednesday as the dollar weakened economic data from the U.S. failed to beat market expectations and minutes from the Federal Open Market Committee’s January 27-28 meeting showed U.S. central bank official intend to keep interest rates extremely low for longer than previously thought.
The EUR/USD pair had a slightly positive session on Tuesday, but we remain below the 1.15 handle. This is an area that caused quite a bit of resistance every time we approached it recently, and as a result I think that it will continue to keep a bit of a lid on this market.
The EUR/GBP pair had a fairly positive session during the day on Tuesday, and even managed to break above the top of the shooting star from the Monday session.